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Plan and implement legal entities in Finance and Operations apps Flashcards | StudBud
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Plan and implement legal entities in Finance and Operations apps
Plan and implement legal entities in Finance and Operations apps
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MB-300, Configure your organization in Finance and Operations apps, Module 2
Flashcards
36 cards
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Practice quiz
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Questions
36
Answers
1
A semi-autonomous operating unit that is created to meet strategic business objectives.
Rental Location
Business unit
Cost center
Branch
2
All operating units have their own year-end closing procedure.
True
False
3
Each internal organization requires a ledger that provides a chart of accounts, accounting currency, fiscal calendar etc
the organization is modeled as an operating unit
the organization is modeled as a legal entity
4
Your internal organizations use different fiscal years and fiscal calendars
the organization is modeled as a legal entity
the organization is modeled as an operating unit
5
Data can be secured for each internal organization by creating customized data security policies.
the organization is modeled as an operating unit
the organization is modeled as a legal entity
6
An operating unit that represents a category or functional part of an organization that performs a specific task.
Business unit
Department
Branch
Cost center
7
Which of the following organization hierarchy purposes in F&O apps controls the spending limits for a business?
Expenditure internal control
Procurement internal control
Signature authority internal control
Vendor payment internal control
8
An operating unit used for the management and operational control of business processes that span legal entities.
Department
Value stream
Business unit
Cost center
9
This policy controls the availability of products in a specific time period, and perhaps on selected retail channels.
Retail reporting
Retail replenishment
Retail assortment
10
Parameters for modules, such as Accounts receivable params, must be set for each organization, & can differ between them
the organization is modeled as an operating unit
the organization is modeled as a legal entity
11
Centralized payments are not required because all invoices are recorded in a single legal entity.
the organization is modeled as an operating unit
the organization is modeled as a legal entity
12
Which of the following hierarchy purposes in F&O apps validates the vendor that the Accounts payable clerks can pay?
Signature authority internal control
Expenditure internal control
Procurement internal control
Vendor payment internal control
13
Must set up centralized payments so that invoices for all child organizatios are paid to/from a single parent org
the organization is modeled as an operating unit
the organization is modeled as a legal entity
14
This policy/purpose defines policies related to security role assignments.
Audit internal control
Project management-
Security
Signature authority internal control
15
Users can access data only for the internal organization that they have access to.
the organization is modeled as an operating unit
the organization is modeled as a legal entity
16
You must consolidate the financial results for regional offices into a single organization to make financial statements
the organization is modeled as a legal entity
the organization is modeled as an operating unit
17
An operating unit that controls one or more production flows.
Department
Business unit
Branch
Value stream
18
This policy defines rules for product distribution and fulfillment for replenishment.
Retail replenishment
Retail reporting
Retail assortment
19
Which of the following organization hierarchy purposes in F&O apps defines purchasing policies for a business?
Signature authority internal control
Vendor payment internal control
Procurement internal control
Expenditure internal control
20
Which policy defines the hierarchical organization for employees, ex could address questions such as who reports to who
Organization charts
Audit internal control
Project management-
Distributed order management (DOM)
21
If your organizations are in different countries/regions and require different local tax options, this is used
the organization is modeled as a legal entity
the organization is modeled as an operating unit
22
Which type of number sequences has better performance, thanks to the possibility of enabling pre-allocation?
Continuous number sequences
Non-continuous number sequences
23
Consolidation of financial results is not required, because data is already shared
the organization is modeled as a legal entity
the organization is modeled as an operating unit
24
Module parameters are shared among internal organizations
the organization is modeled as a legal entity
the organization is modeled as an operating unit
25
Defines policies for generation of financial reports and creates structure for drill down and roll up within the report
Retail reporting
Retail replenishment
Retail assortment
26
The internal organizations cannot require unique ledgers
the organization is modeled as an operating unit
the organization is modeled as a legal entity
27
This policy optimizes order fulfillment across a complex network of systems and processes.
Centralized payments
Retail replenishment
Distributed order management (DOM)
Retail assortment
28
This hierarchy policy defines policies based on factors such as duplication or certain keywords.
Audit internal control
Procurement internal control
Security
Signature authority internal control
29
If your internal organizations must use different sets of products, you must use
the organization is modeled as an operating unit
the organization is modeled as a legal entity
30
Some master data, such as customers, payment terms, tax authorities, must be set up for each internal organization
the organization is modeled as an operating unit
the organization is modeled as a legal entity
31
Operating units must share a functional currency
False
True
32
In case of a power failure, app error or other failure, when should you run a cleanup process to recover lost numbers?
Within 24 hours
During non-peak hours
As soon as possible
Before any new numbers are generated
33
Which of the following organization hierarchy purposes in F&O apps defines travel and expense policies such as meals?
Signature authority internal control
Expenditure internal control
Procurement internal control
Vendor payment internal control
34
An operating unit that represents a brick and mortar store, an online store, or an online marketplace.
Branch
Retail channel
Department
Region
35
Your internal organizations can use the same fiscal years and fiscal calendars
the organization is modeled as an operating unit
the organization is modeled as a legal entity
36
Master data is shared among all internal organizations
the organization is modeled as a legal entity
the organization is modeled as an operating unit
